American International Group Inc. raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 38,979 shares of the company’s stock after buying an additional 1,502 shares during the quarter. American International Group Inc.’s holdings in IDEXX Laboratories were worth $10,179,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Gradient Investments LLC boosted its stake in IDEXX Laboratories by 1,900.0% during the 4th quarter. Gradient Investments LLC now owns 100 shares of the company’s stock valued at $26,000 after purchasing an additional 95 shares during the period. Equitec Specialists LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $27,000. Asset Dedication LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $27,000. Lenox Wealth Management Inc. acquired a new position in shares of IDEXX Laboratories during the third quarter worth approximately $31,000. Finally, Thor Advisors LLC acquired a new position in shares of IDEXX Laboratories during the third quarter worth approximately $34,000. 86.39% of the stock is owned by institutional investors.
Several analysts recently commented on IDXX shares. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating and set a $290.00 target price on the stock. in a research report on Tuesday, February 4th. Guggenheim set a $310.00 price target on IDEXX Laboratories and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BidaskClub upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, January 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. IDEXX Laboratories has an average rating of “Buy” and a consensus price target of $292.86.
In other IDEXX Laboratories news, VP Giovani Twigge sold 14,750 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.51, for a total value of $3,695,022.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.
IDEXX Laboratories stock opened at $288.78 on Friday. IDEXX Laboratories, Inc. has a 52 week low of $198.74 and a 52 week high of $294.57. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 59.18 and a beta of 0.76. The company’s 50-day moving average price is $276.44 and its two-hundred day moving average price is $271.24. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 3.93.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The company had revenue of $605.50 million during the quarter, compared to analyst estimates of $600.60 million. IDEXX Laboratories had a net margin of 17.77% and a return on equity of 283.27%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 5.49 earnings per share for the current fiscal year.
IDEXX Laboratories declared that its board has initiated a share repurchase program on Wednesday, February 12th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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